The mood in the European agricultural machinery industry has improved, but remains in negative territory.
Following the sharp declines recorded in recent months, the August monthly business barometer conducted by the European Agricultural Machinery Association (CEMA), confirms an index increase from -19 to -14 points on a scale from -100 to +100. Scandinavia, the UK and Ireland lead the confidence ranking, whereas the mood in other major markets such as Poland and France, remains low.
CEMA represents approx. 1,300 manufacturers, and the basis for the monthly information is an online survey of 140 senior managers from manufacturers in nine countries. Covering all major product categories, participants are asked to provide their view on the business mood based on current business sentiment and the expected turnover in the next six months. The improvement in August is due to renewed confidence regarding the next six months, while current business remains weak.
30% of respondents expect to increase turnover in the next six months (24% in July); 45% expect it remain the same (41% July); and 24% predict it will drop (34% July).
As to plans regarding the fulltime workforce, 72% expect it to remain unchanged. 19% expect to reduce it and 9% predict an increase. 72% also expect to maintain the same number of seasonal workers. Only 1% plan to increase it and 27% expect to reduce the number of temporary staff.
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